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Budget’s real motive to increase industrialization in country: FBR chairman

Budget’s real motive to increase industrialization in country: FBR chairman
July 6, 2019
LAHORE (92 News) – Federal Board of Revenue (FBR) Chairman Shabbar Ali Zaidi on Saturday has said that the real motive of federal budget for strict actions on asset recovery is to increase industrialization in the country. Addressing a ceremony of Lahore Chamber of Commerce (LCCI), the FBR chairman said that the real motive for strict actions on asset recovery is to increase trade and industrialization in the country. “Distributors do not want to come in the process of tax net so they are anxious, however, no step will be taken against any businessman,” he mentioned. “If the need to adjust duty then it should be done and try to resolve misuse of authority,” he added. “Traders have a lot of complaints against the institute of customs and we are trying to resolve them on priority basis. Green Channel will be increased from 40 to 60 percent,” assured Shabbar Zaidi. He told that the prices of edible ghee and oil would not be increased after strict directives from the Prime Minister Imran Khan himself. The FBR chairman further announced that none of the accounts have been frozen as yet of the people who failed to or refused to declare assets in the government’s declaration (amnesty) scheme. Commenting on the IMF bailout package, the FBR chairman said that the International body had given a major relief to the government in terms and conditions. He expressed resolve to completely automate the processes of the institute and its dealings. https://www.youtube.com/watch?v=OLFdb2Vw1qg
Earlier today, in appeared to be a large-scale reshuffle in its ranks, the Federal Board of Revenue (FBR) transferred and posted 3,071 officers and officials country-wide on Saturday. According to a notification, the FBR authorities in a grand scale shakeup has issued transfer of 504 officers in 16 offices ranging from grades 9 to 16. As many 21 officers from grades 18 to 20 have also been reshuffled. Changes in the FBR formations have taken place in regions including Karachi, Lahore, Rawalpindi and Islamabad. Other regions where transfers have taken place include Peshawar, Gujranwala, Multan, Faisalabad, Hyderabad, Quetta, Abbottabad. Sukkur, Sialkot, Sahiwal, Bhawalpur and Sargodha. As many 656 officers from Lahore and 357 officers from Rawalpindi and Islamabad have been transferred. It is worth mentioning that the federal government has set an ambitious revenue target of Rs5.5 trillion (Rs5,500 billion) for the premier tax collection body.